ZeroHedge reported previously of Canadian Banks getting a bailout because they were in big trouble after 2008 and rounded on by the Canadian Media. It seems that David McDonald, Senior Economist of Canadian Center Of Policy Alternatives has backed ZeroHedge’s view and has written a report on the $114 billion that the top 5 banks received.

“…we have not had to put any taxpayers’ money into our financial system in Canada, nor do I anticipate that we’ll be obliged to do so.”

—Jim Flaherty, Minister of Finance

“Without wanting to appear arrogant or vain, which would be quite un-Canadian… while our system is not perfect, it has worked during this difficult time, I don’t want the government to be in the banking business in Canada.”

—Jim Flaherty, Minister of Finance

“It is true, we have the only banks in the western world that are not looking at bailouts or anything like that…and we haven’t got any TARP money.”